Publisher Pearson ends 2005 in line with forecasts

LONDON (MarketWatch) -- Publishing Pearson
PSO, +2.45%PSON, +2.63%
said it closed its 2005 year in line with expectations, leading to "significant" underlying growth in sales, adjusted earnings per share, free cash flow and return on invested capital for the year. It noted a strong performance in the School, Higher Education, Professional and international markets divisions of its education business. Elsewhere, Penguin's fourth-quarter frontlist performed well; the Financial Times sustained its advertising revenue growth and will reach breakeven; and IDC expects to report its best year ever, the company said. Looking ahead, 2006 should be another "good" year for Pearson, with progress in all of its major businesses.

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